Dear All, Can anybody tells a salary breakup (Basic+HRA+Another Allowances) of Rs. 24,000/- in which we can get more exemptions or deductions from TAX and can nil the whole tax payable without the deduction of PF.
Hi! Arti,
Let us have Basic of Rs. 7000/-( for PF Exemption), HRA 40% of Basic Rs. 2800/- (Tax free subject to conditions),
Rs. 1300/- by Food Plus Card , Rs. 1250/- Medical Reimbursement, Rs. 800/- Conveyance exp (all 3 Tax Free). Rest is Special Allowance Rs. 10,850/-.
In this Taxable income would be Rs. 2,14,200/- which will attract NO TDS, if we avail 80C.
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